F&I

California Town Settles Land Dispute With Former Dealer for $1.4M

April 25, 2013
• by Staff

MONTEBELLO, Calif. — The former owner of Ostrom Chevrolet, Ara Sevacherian, is receiving an unexpected windfall of about $1.6 million, including interest and payable over three years, after unsuccessfully suing the city of Montebello twice over a last-minute land deal, the San Gabriel Valley Tribune reports.

In 2009, the city's former redevelopment agency purchased a lot owned by Ostrom Chevrolet for $12 million to help business stay open. A year later, Sevacherian sued the agency for breach of contract after it failed to come through on an agreement to purchase a number of his properties related to the auto business for $3.2 million. Months later, he filed a second lawsuit in an effort to stop the city from using $17 million in redevelopment funds for operating expenses.

Larry Dorfman will step aside as chief executive of APCO Holdings, the company he founded 35 years ago and grew to include the EasyCare, GWC Warranty, and Covideo brands, yielding the company’s chairman and CEO position to former J.D. Power head Finbarr O’Neill.

Two years ago, Chris Brown went looking for a way to facilitate sales, trade-ins, and financing for car buyers who prefer to shop online. Today, his Seattle-area Subaru dealership is doing just that, and he says the experience he and his team deliver is just as ‘stress-free’ as ever.

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